The shared workplace, especially coworking, continues to grow. Coworking spaces globally grew by 36% in 2015, and are projected to grow further in the near term.
Not all operators are alike. Skeptics have valid concerns about the longevity of this model through the next economic cycle.
More than just a tenant. Although this model challenges the normal landlord/tenant relationship, many landlords believe it presents an opportunity for amenities, tenants, innovation and partnership within their property portfolios.
Amenities to enhance the tenant experience. Many landlords now acknowledge that shared workplaces have the power to contribute to the “guest experience” in ways that will help retain their corporate tenants for the long-term, pull people out of informal workspaces such as cafes and living rooms, and in turn differentiate and give life to their assets.
Pipeline of prospective tenants. One-third of coworking end users expect to graduate to leased offices at some point in the future.
Laboratory for workplace innovation. Shared workplaces provide a real-time laboratory for understanding how people work productively in dense, high-utilization and fluid environments.
Potential for creative partnership. Landlords can experiment with and use the model in creative ways to stay current with workplace and tenant trends.
Take notice if you haven’t already. While shared workplace accounts for less than 1% of the total office market, it offers a new channel for landlords to tap into a growing and dynamic market that is satisfying user needs.